HACKENSACK, New Jersey, March 21, 2011 /PRNewswire-FirstCall/ -- Ness Technologies, Inc. (NASDAQ: NSTC and TASE: NSTC), a global provider of IT services and solutions, announced today a four-year, NIS 18 million, or approximately $4.9 million, maintenance and development contract extension with Drench Eretz Highways Management Corporation and HaCarmel Lanes. Derech Eretz operates the Trans-Israel Highway, a 140 km toll road known also as Highway 6. HaCarmel Lanes operates the Carmel toll road tunnels in the city of Haifa.
Under the terms of the contract, Ness will upgrade and maintain the Revenue Management System (RMS), a toll road billing and CRM system implemented on the two toll roads. RMS, which is connected to a License Plate Recognition (LPR) system, manages the entire billing and customer relationship management processes of toll roads. The system handles trip information on any car that uses the toll road, calculates the fee according to various rates, generates invoices, and manages the collection process. The billing component of RMS was developed by Ness.
Ness will provide ongoing maintenance services to ensure sussessful 24/7 operation of the critical billing and CRM system. In addition, Ness will adapt the system to new regulations and conduct ongoing technological upgrades, as well as new development according to the clients' needs and requirements.
"We have been working with Ness Technologies for the last ten years and are satisfied with their professional and responsive service," said Miri Dvash-Hermoni, Derech Eretz's CIO. "Trans-Israel Highway serves approximately 150,000 vehicles a day. The integration RMS with an LPR system allows uninterrupted trips with no barriers at the entrances and exits."
"The decision of Derech Eretz and HaCarmel Lanes to extend its strategic contract with Ness is a tribute to our expertise and to our commitment in maintaining the system in the highest quality manner," said Effi Kotek, president of Ness Israel. "The sophisticated system that we developed for toll roads is considered one of the most advanced worldwide, and can be easily adapted to any language, law and regulation."
About Ness Technologies
Ness Technologies (NASDAQ: NSTC and TASE: NSTC) is a global provider of IT and business services and solutions with specialized expertise in software product engineering; and system integration, application development, consulting and software distribution. Ness delivers its portfolio of solutions and services using a global delivery model combining offshore, near-shore and local teams. With about 7,700 employees, Ness has operations in North America, Europe, Israel and India, has customers in over 20 countries, and partners with numerous software and hardware vendors worldwide. For more information about Ness, visit http://www.ness.com.
Forward Looking Statement
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements often are preceded by words such as "believes," "expects," "may," "anticipates," "plans," "intends," "assumes," "will" or similar expressions. Forward-looking statements reflect management's current expectations, as of the date of this press release, and involve certain risks and uncertainties. Ness' actual results could differ materially from those anticipated in these forward looking statements as a result of various factors. Some of the factors that could cause future results to materially differ from the recent results or those projected in forward-looking statements include the "Risk Factors" described in Ness' Annual Report on Form 10-K filed with the Securities and Exchange Commission on March 4, 2011. Ness is under no obligation, and expressly disclaims any obligation, to update or alter its forward-looking statements, whether as a result of such changes, new information, subsequent events or otherwise.
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SOURCE Ness Technologies Inc